“A tidal wave of fear, uncertainty and doubt (FUD) has been unleashed across the cryptocurrency market after U.S. president Donald Trump’s Friday tariff announcement,” Petr Kozyakov, chief executive crypto payment platform Mercuryo, said in emailed comments.

The violent crypto dip in the early Monday morning hours has done little to rattle optimism in the industry, which remains focused on the long-term potential of the technology rather than short-term price fluctuations.